Arguments set in Conrad Black appeal

The 7th U.S. Circuit Court of Appeals in Chicago is scheduled to hear arguments for and against tossing the conviction of one-time media mogul Conrad Black.

Wednesday's hearing comes two months after a judge released Black from prison pending a decision on his appeal. He'd served two years of a 6 1/2-year sentence for defrauding Hollinger International Inc. investors.

Prosecutors argued at trial that Black deprived the company of his faithful services as a corporate officer, breaking the so-called "honest services" law.

The U.S. Supreme Court limited the scope of such laws in June. That leaves it to the 7th Circuit to decide whether to overturn Black's conviction in whole or in part.

Black isn't required to attend Wednesday's hearing, and it isn't clear if he will be there.